Hope Island is one of the Gold Coast’s most exclusive suburbs. Home to an enclave of exclusive housing estates, such as Sanctuary Cove and Hope Island Resort, with several world class golf courses meandering in between.
The property website Domain are currently running a series of articles on selling a property, covering aspects from presentation and market advise, to sales tactics and the conveyancing process itself.
Brisbane came alive this weekend for the annual Teneriffe Festival. The streets were lined with a festival of food, markets and entertainment.
So you’ve spent countless weekends scouring the suburbs of Brisbane, or the Gold Coast for that perfect property and you think you’ve finally found ‘the one’ and are ready to put in an offer and sign a contract of sale. It’s right about now that you need to tap the brakes every so slightly. There’s no point rushing in and signing your name, as the entire conveyancing process will be dictated by this contract, so you want to make sure you’ve got it right before signing.
So you’ve had your property on the market for a while and have now signed a contract of sale and sold your property. First of all congratulations on the sale! While getting that offer may be exciting at first, we’re sure that a bit of stress is beginning to creep into your mind as you start to consider the long list of things you now have to take care.
It’s well known that buying into an apartment or unit complex brings with it an extra level of complexity stemming from the strict and confusing Body Corporate legislation that applies. With freestanding housing becoming more rare and more expensive as housing density increases, multi-dwelling residences are becoming the norm.
If you have ever bought or sold property before then you are probably familiar with the term fixture. The general rule when it comes to what constitutes a fixture is that, an object, which is fixed to the property, or land by any means other than its own weight, it is considered a fixture, otherwise it is considered to be a chattel.
Many people aren't aware that you can purchase an investment property using funds from your self-managed superannuation fund ("SMSF"). There are of course a lot of conditions and restrictions in doing this, but with the property marketing often having a faster growth rates than traditional shares it can be a wise investment.
Earlier this year the Queensland Government repealed the Property Agent and Motor Dealers Act 2000 (“PAMDA”) and brought in the Property Occupations Act 2014 (“Act”) to replace it. This new piece of legislation brings with it a raft of changes to property lawin Queensland, a few of which we have highlighted before. As we edge closer to the time in which it comes into play we thought we would revisit this topic and highlight a few addition changes to the way property is bought and sold and what this will mean to buyers and sellers of residential property.
There are some big changes in store when it comes to property law and conveyancing in Queensland. On top of PEXA, or electronic conveyancing, that is due to commence in the next six months, the Queensland Government has passed new legislation which radically overhauls the way residential properties are bought and sold in Queensland.
In Queensland the conveyancing process begins once the Contract of Sale is signed by both parties. The execution of the Contract sets off a series of obligations that each party must meet on certain dates. It is crucial that as a buyer or a seller you meet your obligations by their respective deadlines in order to avoid facing any penalties or the possible termination of the Contract by the other party.
Our previous post on co-ownership introduced the concept and the benefits and pitfalls of owning property with others. As you know there are a several ways in which co-ownership of a property can be extinguished, but this depends on the form in which the co-ownership takes; i.e. do you own the property as, tenants in common, or as joint tenants.
